The latest research from online estate agents, HouseSimple.com, has revealed that hundreds of thousands of UK homeowners who bought property before the crash in 2007 – while prices were at the top of the market – are still stuck in negative equity 10 years on. But where do they live?
The research compared average house prices in June 2007 and June 2017* in more than 60 major towns and cities in England and Wales. Almost 1.5 million property transactions were completed in 2007 when property prices reached peak levels, just before the financial crisis.
The research revealed that in more than a quarter (28%) of those towns and cities, average property prices today are still below 2007 values. The worst affected towns are Blackpool (15.3%) and Sunderland (13.3%), where average house prices remain more than 10% below pre-crash highs.
More than a third of the 17 towns and cities where average property prices are still lower today than they were a decade ago, are in the North West. During the same period, average London prices have risen a staggering 69%.
Read more: http://www.propertyreporter.co.uk/features/the-towns-where-house-prices-havent-recovered-since-2007.html?utm_source=Email+Campaign&utm_medium=email&utm_campaign=21136-227611-Lunch+time+news+-+26%2F09%2F2017+eMoov